Network Models of Financial Systemic Risk (13frg184)


Thomas Hurd (McMaster University)

(University of Calgary)


The Banff International Research Station will host the "Network Models of Financial Systemic Risk" workshop from to .

Press Release

The study of cascading failures in interbank networks has been active in the economics community for a number of years. However, it is only since the financial crisis of 2007-08 that this question of paramount importance to society has been addressed by analogy with information cascades and epidemics in social networks. The one-week Focussed Research Group project will develop deliberately simplified models of cascading insolvency and illiquidity in financial networks that have potential to have significant impact on the foundations of a rapidly developing field of applied science.

The Banff International Research Station for Mathematical Innovation and Discovery (BIRS) is a collaborative Canada-US-Mexico venture that provides an environment for creative interaction as well as the exchange of ideas, knowledge, and methods within the Mathematical Sciences, with related disciplines and with industry. The research station is located at The Banff Centre in Alberta and is supported by Canada's Natural Science and Engineering Research Council (NSERC), the U.S. National Science Foundation (NSF), Alberta's Advanced Education and Technology, and Mexico's Consejo Nacional de Ciencia y Tecnología (CONACYT).